Business: Fox Plan

Last week the William Fox cinema enterprise, minus William Fox (TIME,
April 21), at last announced the financing plan which was belatedly to
pay for the great Fox expansion of 1929. It provided, essentially,
that Fox Film should sell to General Theatres Equipment, Inc. 1,600,000
shares of (new) Class A at $30 a share, and should also issue
one-year 6% notes for $55,000,000. These two transactions, totalling
$103,000,000, would leave the Fox Companies well supplied with, funds.
Furthermore the bankers (who included both the Fox and the anti-Fox
factions in the late war)...